African fintech firms Floatpays, CompariSure, OZÉ get VC cheques

 African fintech firms Floatpays, CompariSure, OZÉ get VC cheques

South African fintech startups Floatpays and CompariSure have raised early-stage funding from a bunch of venture capital firms.

On-demand pay provider Floatpays has secured close to $4 million in an oversubscribed seed funding round from investors including from Global Founders Capital, Base Capital, Finca Ventures, Raba Partnership and 4DX Ventures.

Olugbenga Agboola, co-founder and CEO of Flutterwave, joined as an angel investor in the round.

Existing backers who took part in the round were Founders Factory Africa, Kepple Africa Ventures, Norrsken Foundation and MFS Investments.

The two-year-old startup offers a platform that allows on-demand access to pay, savings and financial education.

“The investment allows us to consolidate our position in South Africa and expand into the rest of Africa,” said Simon Ward, founder of Floatpays.

“We are accelerating the development of important features that complement our existing product, such as our new interest-bearing savings account that is directly linked to employees’ pay checks,” he said,

CompariSure

CompariSure has secured ZAR15 million ($1 million) in a pre-Series A funding round led by HAVAÍC, with participation of existing backer 4Di that had first invested in 2019.

The firm had also raised funding in May 2020 from UW Ventures and Allan Gray.

Founded a little over four years ago by Jonathan Elcock (CEO) and Matt Kloos (CFO), CompariSure distributes financial services products via a proprietary chatbot technology.

It is now looking to expand its services to call centre automation, sales force management and market research.

OZÉ

Ghanaian fintech startup OZÉ said Wednesday it has raised $3 million in a pre-Series A round led by Speedinvest, with participation from Cathay AfricInvest Innovation Fund, Savannah Capital and a few angel investors.

OZÉ was founded by Meghan McCormick (CEO) and Dave Emnett (COO) in 2018. It offers digital recordkeeping tools to small business owners and has added tools to push financial services to such firms. It claims it reaches over 125,000 business owners in Ghana and Nigeria.

The startup raised $700,000 in seed funding last year and had previously attracted additional sums from Ingressive Capital and MEST.

Vivek Sinha

error: Content is protected !!
The Capital Quest